Hot Topics:

Opinion

Editorial: Closing the gap on RTD's FasTracks budget issues

We're encouraged by the transit agency's efforts to find savings that allow for the plan's most comprehensive buildout possible.

By The Denver Post

Posted:
12/09/2012 12:01:00 AM MST

Give RTD credit: Earlier this year the agency vowed to scour its books in hopes of coming up with money to help address the FasTracks rail program's financial shortcomings.

Having gone through the couch cushions, the agency has identified a plan that could produce $277 million for the regional rail project. The goal is to come up with as much as $300 million in hopes of attracting grants and private-sector interest, a spokesman said.

The "FasTracks internal savings account," or FISA, falls far short of the more than $800 million shortfall that exists given cost estimates have increased from $894 million to $1.7 billion — but it is a worthwhile step nonetheless.

As The Post's Monte Whaley reported last week, Regional Transportation District officials have produced an eight-point plan aimed at coming up with enough money to begin work by 2017 on completing the Bus Rapid Transit System on U.S. 36 and the North line from Union Station to 72nd Avenue in Adams County.

The full board will take the issue up at its Dec. 18 meeting.

Of the $277 million in identified savings, an estimated $150 million is characterized as being "under RTD control."

Advertisement

A trickier portion — $127 million — will require legislative action. That involves giving RTD the authority to audit state sales tax receipts and allowing the RTD sales tax to be collected on all of the items for which state sales tax is now collected. Soft drinks and candy are examples of items that are subject to the state tax but not the RTD tax.

Transit officials suggest that treating both entities consistently in the tax code would simplify things for merchants and the Colorado Department of Revenue.

It strikes us a sensible plan that bears watching at the statehouse when the legislature convenes next month.

RTD's savings measure is a positive step, but it should not be considered a panacea.

Unaddressed in the effort is what to do about the beleaguered Northwest line from Denver to Longmont, which, if nothing is done, will not be completed for more than 30 years.

We have supported giving voters in the metro area the opportunity to vote to increase taxes to build the full plan — or at least a close facsimile — in a more realistic timeframe.

RTD and local governments from the northwest corridor have embarked on a $2 million study of the transportation demands of the region with the intent of possibly designing a less expensive — yet workable — plan to put before voters in the next two years.

We're eager to see what they come up with.

Until then, we're encouraged to see RTD push ahead by setting aside surpluses and savings for future construction of the Bus Rapid Transit and North line projects.

Lockheed says object part of 'sensor technology' testing that ended ThursdayWhat the heck is that thing? It's fair to assume that question was on the minds of many people who traveled along Colo. 128 south of Boulder this week if they happened to catch a glimpse of what appeared to be a large, silver projectile perched alongside the highway and pointed north toward town.

PARIS (AP) — Bye, New York! Ciao, Milan! Bonjour, Paris! The world's largest traveling circus of fashion editors, models, buyers and journalists has descended on the French capital, clutching their metro maps and city guides, to cap the ready-to-wear fashion season. Full Story